While nut shipments have fallen from last season's highs, farm nut prices have been rising and producers are seeing quite high prices in the initial market. Demand for pecans is expected to increase significantly over the next decade, as producers have now increased quota dollars when evaluating imports. The walnut harvest season has arrived in Georgia. This year we have an excellent harvest of walnuts from the perspective of volume and quality.
However, the nut market is quite unsettling for most producers right now. Over the past year, the temperature and climate in New Mexico have constantly changed due to global warming. As a result, the current nut harvest was affected, as the much needed cold period did not occur. Moving into summer, several regions were having problems with the water supply for walnuts.
The nut industry is having a “downturn year”, with nut deliveries falling 45% in the month of December and 44% so far this year compared to last year. The price of walnuts is going up, going up, which may mean that if you're planning a pecan pie for Thanksgiving, now's the time to buy them. Blair Krebs, executive director of the Texas Walnut Growers Association, said the walnut harvest suffered from extreme heat and drought, but producers with a decent harvest should do well this season.